Afrobility: Africa Tech and Business #67: Sabi - How the B2B retail platform is providing business services to informal SMB retailers, distributors, suppliers and manufacturers in Nigeria and Africa
Overview: Today, we’re going to talk about Sabi, the B2B retail & supply chain services platform. We’ll explore the story across the following areas:
Africa’s and Nigeria’s informal retail sector
Sabi’s early history
Product & monetization strategy
Competitive positioning & potential exit options
Overall Outlook.
This episode was recorded on July 23, 2023
Companies discussed: Sabi, Rensource, TradeDepot, Twiga Foods, Wasoko (Sokowatch), Omnibiz, Alerzo, & Marketforce
Business concepts discussed: Informal retail penetration, SMB retail OS, B2B Operating systems, Equity carve-outs, Power as a service, Channel margins & Supply chain logistics
Conversation highlights:
(01:00) - Sabi context
(06:30) - Africa and Nigeria informal retail context and background
(20:39) - Background on the founders
(30:04) - Quick Rensource detour - overview and background
(37:05) - Background on Sabi founding
(47:52) - Fundraising
(56:40) - Geographic expansion, partnerships and metrics, and growth
(1:10:15) - Product Strategy
(1:21:17) - How Sabi makes money
(1:32:06) - Competition and options for exit
(1:46:16) - Bankole’s overall thoughts and outlook
(1:55:59) - Olumide’s overall thoughts and outlook
(2:07:49) - Recommendations and small wins
Olumide’s recommendations & small wins:
Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com
Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)
Recommendation: Outlive: The Science and Art of Longevity (book by Peter Attia)
Recommendation: I Don't Want to Talk About It: Overcoming the Secret Legacy of Male Depression (book by Terrence Real)
Small win: Organized House party with friends yesterday, it was fun.
Small win: Got a new backpack for future travelling, very nice.
Bankole’s recommendations & small wins:
Recommendation: Invest Like The Best with the co-founder of FIGS & Spiderman Song - Nigerian Remix
Small win: New keycaps!!!
Other content: How Equifax became a private IRS, Mission.org podcast episode with CEO Sabi & Norrsken22-Backed Nigerian Startup Plans $125 Million Round
Listeners: We’d love to hear from you. Email info@afrobility.com with feedback!
Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com
Investors: It would be great to link up with you. Contact us at info@afrobility.com
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